NIGERIA REQUIRES OVER $50 BILLION TO BRIDGE INFRASTRUCTURE DEFICIT – SEC
Details:
1. Nigeria's Infrastructure Deficit: Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), emphasized during a recent panel session that Nigeria needs over $50 billion to address its infrastructure gap. This statement was made during a program in Lagos, themed "Financing the Future in Nigeria."
2. Role of the Capital Market: Agama highlighted the capital market's pivotal role in raising funds across various sectors such as mining, oil and gas, construction, and housing, which can help finance the country's infrastructure needs. He believes the capital market serves as an economic barometer, capable of contributing significantly to Nigeria's aim of achieving a $1 trillion economy.
3. Investor Education and Market Strengthening: Agama also stressed the importance of improving investor education to strengthen the foundation of the capital market. He called for innovative market-creative initiatives to boost growth, which in turn would help mobilize the necessary funds for essential services like roads, healthcare, education, and agriculture.
4. IFC and Milken Institute's Support: Tom Ceusters, Director of Treasury Capital Market & Investments at the International Finance Corporation (IFC), emphasized Nigeria's partnership in enhancing its capital market. Ceusters shared that the IFC had trained 224 alumni from 56 countries, including 22 Nigerians, in various capital market initiatives over the past eight years. Additionally, John Hunter, Chief Operating Officer and Chief Financial Officer at the Milken Institute, urged regulators to foster a more attractive business environment to stimulate investment and market growth.
This significant financial requirement, as highlighted by the SEC and industry stakeholders, underlines the pressing need for strategic partnerships and effective utilization of the capital market to close Nigeria's infrastructure deficit and stimulate economic growth.
Details:
1. Nigeria's Infrastructure Deficit: Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), emphasized during a recent panel session that Nigeria needs over $50 billion to address its infrastructure gap. This statement was made during a program in Lagos, themed "Financing the Future in Nigeria."
2. Role of the Capital Market: Agama highlighted the capital market's pivotal role in raising funds across various sectors such as mining, oil and gas, construction, and housing, which can help finance the country's infrastructure needs. He believes the capital market serves as an economic barometer, capable of contributing significantly to Nigeria's aim of achieving a $1 trillion economy.
3. Investor Education and Market Strengthening: Agama also stressed the importance of improving investor education to strengthen the foundation of the capital market. He called for innovative market-creative initiatives to boost growth, which in turn would help mobilize the necessary funds for essential services like roads, healthcare, education, and agriculture.
4. IFC and Milken Institute's Support: Tom Ceusters, Director of Treasury Capital Market & Investments at the International Finance Corporation (IFC), emphasized Nigeria's partnership in enhancing its capital market. Ceusters shared that the IFC had trained 224 alumni from 56 countries, including 22 Nigerians, in various capital market initiatives over the past eight years. Additionally, John Hunter, Chief Operating Officer and Chief Financial Officer at the Milken Institute, urged regulators to foster a more attractive business environment to stimulate investment and market growth.
This significant financial requirement, as highlighted by the SEC and industry stakeholders, underlines the pressing need for strategic partnerships and effective utilization of the capital market to close Nigeria's infrastructure deficit and stimulate economic growth.